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ICRA News

Air passenger traffic

13 Jun 2023

Indian Domestic Air Passenger Traffic Registers 2.3 Per Cent MoM Hike In May

As per a new ICRA study, the Indian air passenger traffic has smoothly registered a hike of 2.3 per cent in May in comparison to the month of April

Indian Airlines

16 May 2023

Indian Airlines To Cut Losses With Pricing Discipline, High Passenger Traffic

With healthy passenger traffic and pricing discipline, Indian Airlines are looking forward to cut down on annual losses by roughly Rs 50-70 billion in this fiscal.

Shapoorji Group

04 May 2023

Shapoorji Group Flagship's Ratings Downgraded By Icra

The consolidated external debt of the company has declined by Rs 15,300 crore to Rs 21,870 crore as on December 31, 2022, from Rs 37,170 crore as on August 31, 2020, and is expected to further reduce through asset divestment, the agency said.

27 Feb 2023

India Inc's Profit Margin Narrows In Dec Quarter On High Inflation: Icra

The interest coverage ratio for the agency's sample adjusted for sectors with relatively low debt levels like IT, FMCG and pharma witnessed a moderation in Q3FY23 to 4.3 times from 5.1 times on a sequential basis.

27 Dec 2022

Airbag industry to record 3-FOLD growth with 6-airbag norm on its way

Government will soon make 6 airbags compulsory in all passenger vehicles The airbags industry is assumed to grow to Rs 7,000 crore by FY2027 Currenlty, only two airbags are mandatory in cars in India

13 Jan 2022

Budget 2022 unlikely to allocate any fund for bank recapitalisation: Report

Over Rs 3.36 lakh crore has been spent on the banks in the last six years, ICRA said. Courtesy of the over Rs 3.36 lakh crore of fund infusions from the taxpayers. The agency also said it expects the budget to have some provision for a permanent refinance window from the RBI.

28 Nov 2021

RBI's recent norms may spike NPAs for NBFCs, cautions ICRA

RBI had said that classification of special mention accounts and non-performing accounts should be done on a day-end position basis. The classification should be upgraded from an NPA to standard category only after clearance of all outstanding overdue, RBI added. ICRA said that these new norms will impact on earnings performance of such entities.

27 Sep 2021

Icra revises up FY22 GDP growth forecast to 9%

Icra on Monday said it expects the second half of the fiscal year to have brighter prospects. The robust kharif harvest is likely to sustain the consumption demand from the farm sector. The agency has revised up its GVA (gross value added) growth estimate for agriculture, forestry and fishing to 3 per cent

12 May 2021

Retail inflation eases to 4.29 pc in April from 5.52 pc in March: Govt data

Inflation in the food basket was 2.02 per cent in April, down from 4.87 per cent in the preceding month. CPI inflation dipped to a three-month low in April 2021. The prevailing localised restrictions appear to have had a limited impact on prices in April 2021.

retail industry

25 Apr 2021

Fashion retailers revenue to hit pre-pandemic levels only in FY23: Report

The industry was recovering well till the second wave hit. The food and grocery retailers are set to deliver revenue growth of 8-10 per cent in 2021-22. The pandemic has also spurred the adoption of online retailing in India.

06 Aug 2019

ICRA downgrades Tata Motors' long-term rating to AA- negative

The rating agency has however retained ICRA A1+ rating for Commerical paper programme, Short term debt programme and short-term non-fund-based facilities of Tata Motors .

03 Jul 2019

How IL&FS colluded with rating agencies

The Serious Fraud Investigation Office (SFIO) report points out gaping holes in the style of functioning of rating agencies which were complicit with the rogue management.

24 May 2019

Domestic air traffic sees negative growth on Jet Airways grounding: Icra

The domestic passenger traffic remained on an upswing between July 2013 and March 2019, after witnessing year-on-year de-growth in June 2013, the ratings agency said in a note on Thursday.

15 Mar 2019

ICRA upgrades outlook on PNB, BoI, 2 other lenders

Following infusion of capital in these banks, their financial health improved leading RBI to remove them from Prompt Corrective Action (PCA).

04 Dec 2018

ICRA cuts growth forecast for domestic PV sales to 7-8%

ICRA, which had earlier projected a growth of 8-9 percent, however, maintained stable outlook on domestic passenger vehicles (PVs) industry for the year.

04 Dec 2018

CAD may widen to 3% in September quarter on higher crude prices, gold imports

The CAD is the difference between the inflow and outflow of foreign currency.

Indian carriers

30 Nov 2018

Domestic carriers may need Rs 350 bn capital in 3-4 years: Report

These funds would help bring down the high debt-levels in the airline industry, Icra said in a note.

29 Nov 2018

After its parent Moody's, now Icra downgrades Yes Bank

The agency had placed the bank on rating watch earlier this month and had said the resignations--there were three so far--would impede the bank's ability to raise capital.

20 Nov 2018

Over 70% Uday bonds to mature during 2019-27: Icra

On November 5, 2015, the government of India had approved the UDAY scheme with an objective of financial turnaround of the state power distribution corporations (Discoms).

Current Account Deficit

22 Mar 2018

CAD may treble to $10-12bn in Q4 on higher trade deficit: Report

The CAD had increased to $13.5 billion, or 2 percent of the gross domestic product in the third quarter as well.

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